FMC Technologies, Inc., Houston, announced in October the intended spin-off of its FMC FoodTech and FMC Airport Systems divisions into a separate, independent and publicly traded company. The separation will be completed in mid-2008.
Charlie Cannon, senior vice president of the FoodTech and Airport businesses, will become chief executive officer of the new company.
“Our businesses have leading technologies, strong market shares, and, most importantly, numerous skilled and talented people. We now have the opportunity to leverage these strengths with a dedicated marketplace focus,” Cannon said. “We will have the unique opportunity to create a new chapter of our company and build on our proud history with an independence that I believe will facilitate our growth.”